Dan, What are you talking about? Akzo was over 100, and he waited to sell until after the earnings warning when the stock fell to about 80. Norsk Hydro he just sold at 37, and it's high was 54. Hallwood rose substantially right after Dessauer sold it. These were your examples. I'll admit that sometimes he knows when to "buy low", such as T and SEIC, but "selling high" seems to go right over his head.
Now, don't think for one minute that you can justify Dessauer's performance by attributing it to his "investing model". That's B.S. You're not getting away with that. That's just an excuse for his being wrong. Let me point out to you that Dessauer is the first to brag whenever his portfolio is up in the short term, even if the profit is only on paper. You want to give him credit for staying out of Japan? Look how bullish he was on Hong Kong? And now in the last issue, he sold all of his Hong Kong stocks (quietly of course, not admitting any mistake on his part). I didn't buy any of the Guinness Flight funds, but the losses on those were huge. And I wouldn't start bragging about his European companies either considering the carnage they have had.
Doug, it took me a long time to see the light about Dessauer, and I don't blame anyone but myself for that. However, I do feel an obligation to alert as many investors as possible about him, and that's why I make these posts. I am assuming and hoping that there is a constant flow of new readers. And remember, there are many more readers than writers because a lot of people do not want to pay the $60 to join. But, by all means, you feel free to skip my posts whenever you see my name.
Wren, here is my reply to you.
Dessauer is reckless the way he recommends stocks for purchase.
Dessauer tends to be overly optimistic about the companies he likes and about the market overall.
Dessauer is useless when it comes to deciding when to sell.
Dessauer makes no attempt to minimize losses in the event he is wrong because he is too arrogant to consider that he might be wrong.
Dessauer doesn't usually change his mind about a stock and fall out of love with it until it is too late, and losses are massive.
Dessauer's comments and analysis are always clouded by his effort to depict himself in a favorable light.
Dessauer's shady reporting of his results (compared to other advisors), his obvious money-grubbing (e.g. the e-mail hotline), and his flagrant cover-ups (e.g. the sell order on CPPKY) raise question about his ethics and trustworthiness.
In light of the ethical concern raised above, Dessauer's involvement with the DGE mutual fund and his managed accounts raise serious concern about duplicity.
That's how I'd sum him up, Wren. Ralph
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